- What is a Reverse Mortgage
- Will I Qualify For Money
- Why is Counseling Required
- What Are The Requirements
- Reverse Mortgage Payments
- When Do I Repay the Loan
- How Can I Use the Money
- Reverse Mortgage Costs
- Property Taxes and Insurance
- Why Not Take an Equity Loan
Call Joe Rizzo For The Facts.
Toll Free 800-681-3340
What Are The Requirements?
We are dedicated to educating our clients and thoroughly assisting them throughout the reverse mortgage process.
Senior Lenders Borrower Requirements:
- Applicant(s) must be older than sixty-two years old to qualify
- Be the owner of the residence
- Live in your home at least 50% of the year
- Sign up and Attend an FHA qulaified counselor Session
Reverse Mortgage Property Requirements:
- Single Family Home or 1-4 Unit Home with One Unit Occupied by the Borrower
- HUD-Approved Condominiums are ok
- Manufactured Homes and Leased Land is also ok
- Meet FHA Property Standards and US Flood Requirements
What if I have Been Turned Down For A Refinance?
- No Income checks or Credit issuess are relevant to Reverse Mortgage borrowers
- As long as you live at your home at least 50% of the time No Repayment is required
- Origination fees and any associated closing costs may be worked into the loan for 0 downpayment
